British Asia News Network- AD
Colombo: As per new duty imposed by Government popular Suzuki Wagon R model will be expensive by 250,000 rupees while cars in the 1,000 to 1,300 cc category buyers will have to shell out half a million more. But, for the stocks imported before the budget, there was no apparent increase, according to dealers.
Premium cars such as the entry-level Mercedes C class would cost about four million rupees more.
Finance Minister Mangala Samaraweera said this is to encourage environmentally cleaner electric cars, slightly reduced taxes on electric vehicles, but the concession was for vehicles with a motor power of less than 100 kilowatts.
As per a dealer “Before the budget, we have very little demand, but when the taxes were increased, even that demand seems to have evaporated,” He also added lack of demand was seen in the second-hand market too.